G7 Agrees to Joint intervention to Curb Strong Yen

Discussion in 'Wall St. News' started by ASusilovic, Mar 18, 2011.

  1. The Group of Seven rich nations on Friday agreed to join in rare concerted intervention to restrain a runaway yen, hoping to calm global markets after a wild week of often panic selling as Japan scrambled to prevent a meltdown at a nuclear power plant.


    Haven´t heard this for a while: "concerted action". :cool:
  2. Roark


    The Group of Seven formerly rich nations. The G7 comprises Canada, France, Germany, Italy, Japan (broke), the United Kingdom (broke) and United States (broke). I think France and Italy also have pretty shaky finances.
  3. TraDaToR


    Good to know the G7 is now trading with tax payers money... If it was a private corporation, no broker would ever open them an account in their financial situation.
  4. stevet


    france(broke), italy(broke)
  5. Holy crap...that took the Eur/Jpy for a ride
  6. Free markets at work except when.....
  7. There's lots of people dead and there's a potential "nucular" disaster?
  8. when it is convenient to the powers that be.

    Any excuse....like lets rescue GS, JPM....but let Lehmens go. Oh you guys are investment banks and unable to tap FED...no problem you are banks now. wink wink

    We can't have to big to fail so lets make BoA even larger.

    3 years on and nothing has changed but gotten worse. The so called markets are not markets but rigged exchanges. This house of cards is going to come down.

    Not to worry G7 "no fly zone" too little too late ....I moved the FOREX I needed to move.
  9. benwm


    Reportedly Canada Bank of Canada joins the intervention (I don't think they're G7 are they?)

    Wouldn't want to be long yen...
  10. Well, I can't imagine why this is such an epiphany, tbh. The FX mkt has always been "rigged" in one form or another. I mean how long has the RMB peg been in place?

    As to it coming down, I have no view.
    #10     Mar 18, 2011